According to Sitt, Thor Equities still believes strongly in the Fifth Avenue corridor, but felt the time was right to sell once successfully implementing its business plan of improving a prime retail location and securing a nationally recognized tenant.

The company recently signed women’s contemporary jewelry and accessory retailer Charming Charlie to the majority of the building’s retail space on the first and second floors.

Located steps from Bryant Park, 445 Fifth Ave. is surrounded by leading retailers such as Lord & Taylor, Zara, BCBG Max Azria, Zara and Elie Tahari, and is nearby Grand Central Terminal, Penn Station, the Port Authority and Times Square.